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Usaa bank | Refinance a home

Refinance to meet
your financial goals

  • Lower your interest rate, get cash out or pay off your loan faster
  • Flexible options including conventional, VA and VA IRRRL
Call 844-651-0265

Which refinance loan best meets your needs?

Our refinance options are great ways to get cash out or lower the interest rate on your mortgage.

VA Cash-out Refinance See Note 9

6.125% See Note 3 Interest Rate

6.583% See Note 4 APR

A VA cash-out refinance loan may be right for those who want to trade their home's equity for cash.

Key Benefits:

  • Refinance up to 90% of the home value
  • $0 origination fee
Call 844-651-0265

VA Interest Rate Reduction
Refinance Loan (IRRRL)

6.125% See Note 3 Interest Rate

6.228% See Note 4 APR

This refinance loan has a fast and easy process with no appraisal necessary

Key Benefits:

  • Refinance up to 100% of the home value
  • $0 origination fee
Call 844-651-0265

Conventional Refinance Loan See Note 6

7.000% See Note 3 Interest Rate

7.231% See Note 4 APR

You can use a conventional refinance to get a lower interest rate, cash out equity or shorten your loan term.

Key Benefits:

  • Refinance up to 95% of the home value
  • Variety of terms available
Call 844-651-0265

Looking to buy a home instead?

Let us help you find the right loan for you.

Explore loan options Update your answers

USAA membership means more

Who is eligible

U.S. active military, veterans, spouses and children of USAA members.

Why it matters

We don't have competing interests. Serving members is our only focus.

Become a member

Guidance and tips

Know the basics

Homebuying tips

Start your mortgage refinance today

We can help you reach your goals.

Call 844-651-0265

1 VA loans may include a funding fee, which may be financed up to the maximum allowed loan amount.

2 Based on the USAA Bank Mortgage Member Survey, Member Satisfaction was 90% in 2023.

3 The advertised rates and points are subject to change without notice at any time and are not available to every borrower. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment and our internal credit criteria. The advertised rates are based on a fixed rate mortgage loan and rates will vary based on the term of the mortgage loan and property location. Other rates, points, and terms may be available. All loans are subject to credit and property approval. Property insurance is, and flood insurance may be, required.

4 APR (Annual Percentage Rate) is a rate used to calculate your cost of borrowing in a year. Unlike interest rates, APR factors in the amount borrowed, the interest rate, points, one-time fees, and discounts to determine a more accurate yearly cost. The standardized APR formula is used to make it easier for consumers to compare rates at different businesses.

5 A down payment will be required if the purchase price exceeds $1.5 million. If previous entitlement was used, a down payment may be required.

6 USAA Bank Mortgage does not currently offer Conventional loans in the state of Hawaii.

7 First-time homebuyer means someone who has not owned a home in the past three years.

8 Our preapproval is not a commitment to lend. Information used to issue the preapproval will require verification during the application process.

9 USAA Bank does not offer a cash out refinance product in the state of Texas.

10 This mortgage calculator is intended to assist you with estimating monthly mortgage payments. This amount does not include VA funding fee, private mortgage insurance, and other costs associated with owning a home. All examples are based on the information entered and are for illustrative purposes only. This is not an offer to lend.

USAA Bank Mortgage offers mortgage products to members where the property is located within the Continental United States, Alaska, Hawaii, and the District of Columbia. Excludes properties within U.S. Territories. In certain states, product restrictions may apply.

A home loan refinance may be useful for many customers who want to lower their monthly debt payments. However, a refinance is secured by your home, has closing costs and may ultimately require paying more in interest over time.

VA IRRRL: All VA rules, guidelines and additional program requirements will apply. Except as provided by applicable VA guidelines, the same parties obligated on the original loan must be the parties on the title and obligated on the new loan. Proceeds from the new loan will only be used toward payment of the original loan amount. No cash back can be received from the new loan. Payment of discount points, taxes, insurance and HOA fees are the responsibility of the borrower. Other exclusions apply. Refinancing either to lower the monthly payment or change from a variable-rate to a fixed-rate loan could result in an increase in the total number of monthly payments and interest charges paid over the full term of the new loan.

Use of the term "member" or "membership" refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA. Restrictions apply and are subject to change. To join USAA, separated military personnel must have received a discharge type of Honorable or General Under Honorable Conditions. Eligible family members may also join USAA.

Home loans subject to credit and property approval.

"USAA Bank" means USAA Federal Savings Bank.

Bank products offered by USAA Federal Savings Bank.

USAA FSB NMLS 401058

6548707

Essential steps to buying a home

Whether you're a first-time buyer or it's been a while since you've purchased a home, the prospect can be overwhelming. Here are some essential steps to help keep you on track.

Figure out what you can afford.

Your mortgage payment should fit comfortably with your lifestyle. Generally, your mortgage payment should not exceed more than about 36% of your gross monthly income.

Apply for a mortgage preapproval. See Note 8

A preapproval helps determine how much you can afford and includes a review of your credit score and credit history, income and assets, and it assesses your overall debt-to-income ratio. It may also give your offer more credibility and speed up the closing process.

Find a reputable real estate agent.

A good real estate agent not only is knowledgeable but also proactively shares that knowledge with you.

Start house hunting and make an offer.

Be sure to stay within your original price range and work closely with your real estate agent before submitting an offer.

Schedule an inspection and get an insurance quote.

We recommend obtaining an objective, third-party evaluation of the home to identify defects or problems.

Review your loan documents and closing costs.

You may be asked to provide additional documents that support your income, employment, assets or credit. Closing costs may include attorney's fees, title insurance and property taxes.

How to begin your homebuying journey

Often, a helpful first step in your homebuying journey is to get an early idea of how much home you can afford. Some lenders might call this getting preapproved.See note See Note 8 Although it isn't required, getting a preapproval is a recommended step that can simplify your homebuying process.

8 people you'll need on your homebuying team

Buying a home isn't a solo effort — you'll rely on many people for a successful purchase. Here's a look at who should be on your homebuying team.

Spouse or partner. If you're purchasing a property with another person, they're first on your list.

Real estate agent. Your navigator for the homebuying process.

Loan officer. They help you find the best mortgage for you.

Attorney or escrow officer. They help ensure your transaction complies with laws and regulations.

Home inspector. They examine and report on the property's condition.

Appraiser. They evaluate your home's market value.

Title company. They ensure the seller is the true owner and that there are no liens or claims against the property.

The seller. You will negotiate the terms of your agreement and closing timelines with the seller.

Tips for buying in a seller's market

A seller's market is one where there are more people buying homes than there are homes for sale. In addition to higher prices and the need to make quicker decisions, you're likely to face stiff competition. These tips can help you come out on top.

Choose a sharp real estate agent. Choose an agent who not only has proven expertise in the neighborhoods you're interested in but also is highly responsive and efficient.

Get preapproved. See Note 8 A preapproval helps determine how much you can afford and may also give your offer more credibility and speed up the closing process.

Establish price discipline. Before you start shopping, set a firm limit on how much you're willing and able to spend.

Be flexible with any demands. Think twice before attaching conditions to your offer, such as demands for changes to the property.

Consider waiting. Don't get carried away with the pressure to buy. Remember that a home decision has a long-term impact on your financial future.